The future is looking brighter - and somewhat greener - for commercial property investors in Tauranga, as a new environmentally-friendly building begins to take shape in the city centre.
In Devonport Rd construction work is under way on a state-of-the-art commercial building that, once complete, will be Tauranga's first "green star" rated building.
Development group Sharpac Properties LP has made a point of using sustainable principles in the building's design, management and materials and it will be built according to a comprehensive rating system to reduce its environmental impact.
Designed by leading-edge commercial architects Jasmax, the building will house Tauranga law firm Sharp Tudhope, as well as a mix of retail and leased office space.
"We see achieving a green star rating as important not only to improve the working environment of our staff and serve to attract new staff to the firm, but also to encourage new businesses to consider Tauranga as a highly desirable place to establish their operations," Sharp Tudhope spokesman Alasdair Christie said.
As well as holding environmental benefits, the building was expected to boost productivity at Sharp Tudhope, as all legal staff would be brought together on one floor.
The developers have placed a strong emphasis on creating an environmentally sensitive "smart" building and aim to achieve a minimum 4-star Green Certification.
Significant investment has been made to ensure that appropriate sustainability measures and design features are in place, such as rain water recycling, use of low flow tapware and sanitary fittings, lighting and energy use monitoring and sensors, as well as bike storage, showers and lockers.
In addition, the development team are taking action to recycle the waste from the demolition of the existing building on the site.
"We are excited to be bringing this building to the Tauranga CBD," Mr Christie said.
"The development is about being innovative in creating better places to live and spaces to work."
Sharp Tudhope plans to move into the new building in late 2011.
Priority One city centre manager Duarne Lankshear said green star buildings were essential for a modern, growing city to accommodate a "new breed" of existing and new tenants.
"This style of building works very well in other large centres and the ground floor cafe adds a real point of difference.
"Architecturally, the development ticks all the boxes from an urban design perspective, including its vital active frontages and activities to ensure its long-term sustainability."
Priority One chief executive Andrew Coker said Tauranga was attractive to businesses as it has existing infrastructure, a good labour supply, lay close to the Port of Tauranga and boasted a plentiful supply of industrial land.
"The Sharp Tudhope building has significant attractions, not least in that the whole operation can be planned as a coherent site with appropriate consideration given to expansion and future needs."
In another vote of confidence for the region, national clothing retailer Kathmandu recently confirmed its move into a new downtown city store on Elizabeth St. Other national brands are eyeing similar moves, and Priority One is actively marketing the downtown area to retailers.
Having experienced a 33 per cent population increase over the past decade, Tauranga is projected to become the third largest city outside Auckland by 2020.
A recent study by Infometrics showed Tauranga to be one of the country's top places from which to do business.
When Tauranga and Auckland were compared across a range of attractiveness indicators that businesses are likely to consider when deciding where to locate, Tauranga emerged as a clear front runner, offering nearly one third more advantages.
Average office rentals were 40 per cent more affordable and warehouse space 15 per cent better value.
Other advantages were the lack of congestion on roads, easy access to the port and airport, and a superior lifestyle.
This was backed up by a survey undertaken by Colliers International last year, with commercial property investors in Tauranga feeling more confident than anyone else in the country.
In addition, significant public and private investment is planned for Tauranga's city centre over the next few years, including the redevelopment of the waterfront area and city residential areas.
Tauranga city centre set to go green
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